Asian Countries Unite to Shape Digital Asset Regulation Landscape

Regulatory officials from Pakistan, Thailand, Malaysia, and Indonesia gathered at WebX2026 to discuss digital asset regulation. Pakistan's grassroots cryptocurrency adoption rate is among the highest in the world, despite a lack of formal regulation.

Pakistan's Bilal Bin Saqib emphasized that regulatory authorities must adapt to a new role, as citizens now adopt technology before governments can catch up. He highlighted three lessons from Pakistan's experience: informal markets are still active, albeit less visible; regulators should listen before legislating; and regulations must be practical enough to encourage entry into a regulated framework.

Thailand is developing a schedule for securities tokenization and cryptocurrency ETFs. The Thai SEC supports market opening, development, and innovation while prioritizing investor protection. They plan to utilize technology in the capital market, position cryptocurrency as an asset class, and advance the framework for cryptocurrency ETFs by 2029.

Malaysia is strengthening its onshore market's competitiveness and exploring blockchain utilization in traditional finance. The Malaysian government has conducted a situational assessment and aims to enhance the onshore market's liberalization and development. They emphasize involving a broader financial ecosystem, including banks, in this process.

Indonesia's cryptocurrency market adopts a localized model with domestic custodians and transactions through banks and clearinghouses. As of June 17, 2026, Indonesia has over 22.4 million cryptocurrency accounts, an increase from 15 million at the end of last December. The Indonesian government has officially incorporated cryptocurrencies as a major asset class under the new Financial Strengthening and Development Law.